Friday, July 9, 2010

India to grow by 9.4% - IMF

IMF - International Monetary Fund - predicts India to grow by 9.4% this fiscal - in a scenario where global economy is expected to grow by 4.5%, with the emerging and developing economies leading.

According to its economic outlook update 
World growth is projected at about 4½ percent in 2010 and 4¼ percent in 2011. Relative to the April 2010 World Economic Outlook (WEO), this represents an upward revision of about ½ percentage point in 2010, reflecting stronger activity during the first half of the year. The forecast for 2011 is unchanged.
The projections for China stand at 10.5% for 2010 and 9.6% in 2011, while India is forecasted to grow at 9.4% in 2010 before falling to 8.4% next year. The advanced economies are collectively expected to grow at 2.8% in 2010 before falling to 2.4% next year.

The IMF forecast said Asia’s strong recovery from the global financial crisis continued in the first half of 2010, despite renewed tension in global financial markets. Economic activity in the region has been sustained by continued buoyancy in exports and private domestic demand.

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